Question
Wilton Corporation reported retained earnings of $764,000 on 1/1/20x7 and $833,000 on 12/31/20x7. During the year the company issued $27,000 in common stock for $32,000.
Wilton Corporation reported retained earnings of $764,000 on 1/1/20x7 and $833,000 on 12/31/20x7. During the year the company issued $27,000 in common stock for $32,000. Given this information, what was Wilton's net income for the year?
A)$37,000
B)$42,000
C)$69,000
D)$96,000
E)$101,000
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Fundamental Cornerstones Of Managerial Accounting
Authors: Dan L. Heitger, Maryanne M. Mowen, Don R. Hansen
1st Edition
0324378068, 9780324378061
